Well of course I did not heed to the advice of many when I got my first job, which was, to save money. *insert rolls eyes*. Now I’m here just wishing to erase the memory of the time I spent my entire pay check on an outfit to go to some random party, ooof! I cringe.
Let’s just say that I learnt my lesson pretty fast and realized I had to make some drastic changes in order to save money but still have a life. I always say I’m not gonna be one of those people who save save save, but have nothing more. No travel, no friends, no nothing, just money sitting in a bank account. No ma’am! Money is made to spend and that I shall. How I spend it though, is where I can win, or lose. And here’s how I save money while having the life I want.
Setting Goals & Priorities – How would we know what we’re aiming for without them? I set a goal for everything. A trip, a house, an eye shadow palette. Everything. That way, if I don’t stick to plan, it is apparent. It holds me accountable and gives me either a pat on the back or a stern side eye telling me to buck up! As for priorities, I save according to priority. Things that always are high up on my list are travel, retirement and an emergency stash.
Frugality & Bargaining – I have no shame in saying that I am very frugal. I think long and hard before I purchase anything and I make sure I’m getting it at the best possible price. If your goal is to save money, you have absolutely nothing to lose with being frugal. And I don’t mean cheap. Hunting for the best price doesn’t mean skimping on quality. It just means getting the most for what your money can buy. I also never purchase something (especially expensive items) without either waiting for a sale or asking for a discount/bargain. There is nothing to lose and no shame what so ever in doing that. I will say though, that I don’t haggle on price for artisan items. When I purchase products and services from smaller businesses, I pay what they ask for.
Keeping low maintenance – So for like hair, skin, nails, beauty, yada yada, I budget and spend only a certain amount in this area. I spread out bigger purchases but overall, I spend very little here. I buy good quality items that will do its job and last me a long long LONG time. No sporadic and ad-hoc spending because these things add up very quickly and if you calculate the yearly cost, you just might pass out. Cutting back on this in particular saves me a lot of money.
On Entertainment and eating out – This is planned and budgeted for every month. Going for a couple drinks can easily run you into spending hundreds in one night. To keep things tight in this area, I turn down many offers to ‘hang out’ or give an alternate option to get together. My household is pretty easy to entertain so this area never run us much.
On needs and nice to haves – Wants and needs are important equally in our household. Yes we have our needs covered, but to be happy, some nice to haves must be in the mix. I can’t say this enough, but balance is key if you’re to save money, on anything.
Budget, budget, budget – Before anything else, I do this. Without a budget I’m dead in the water. There are many apps to choose from that can help you. I always keep it running and up to date. I also always pay bills first, assign savings and THEN do everything else with whatever remains. And it works.
These may all seem trivial or clichéd but practicing these, allows us to save for travel multiple times a year, prepare for retirement, have a little cushion/ wiggle room in case of emergency and have that super expensive cup of coffee when we feel like it.
So tell me, how do you save money while living life?
Thanks for stopping by!
PS ~ Why are you so obsessed with my weight? and 10 Things I’m Loving.
Published: April 19, 2018 5:00 AM